Anyone know the penalties imposed for late CIS returns?

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT member discussion
I've got a client who was meant to be submitting their own CIS return but has just passed it all to me to complete.
They paid 3 subbies on CIS4 cards adn have actually overpaid CIS tax to the revenue by about £80.
Does anyone know if there will be a penalty for the late submission of the CIS36 and if so how much it'll be?
I've searched the revenue's website but (surprise surprise) can't find anything. If it's there it's well hidden.

jodie

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Anyone know the penalties imposed for late CIS returns?

    These returns carry the same deadline as the P35, 19th May, with a wks extention allowing for bank holidays. So the deadline is actually 29th May this year! (wish i had know that last friday!!!)

    Think they carry the same penalty too £100.

    Regards

    Dean
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Anyone know the penalties imposed for late CIS returns?

    Thanks :)
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Anyone know the penalties imposed for late CIS returns?

    They are still deemed "late" in the Revenue's eyes, but just dont get the penalty. This will become important next year when the CIS rules change. They are moving to the 2 strikes and you are out system of carrot and stick - ie if you are on 0% deducted (ie paid gross) then you will lose that "privilege". If you are a subbie who also employs subbies this will have a huge impact on your cash flow. It is their way of trying to get everyone to toe the line!

    Claudia
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Anyone know the penalties imposed for late CIS returns?

    £100 per 50 (or up to 50) subcontractors for every month (or part month) the return is late.the amount charged is laid down in law (although I can't at the moment remember which regulations) and the penalties are automatic. the filing deadline is always 19 may- by concession there is usually a 7 day extension- not extra time for completion but to allow for any postal delays affecting when the return reaches HMRC. For 2005-06 it was 29 may 2006 due to timing of the bank holiday but it is only a concession. not sure of the details of the new cis scheme starting in april-but the penalties for late monthly returns i think were a bit more severe.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Anyone know the penalties imposed for late CIS returns?

    And the prize for most resurrections of old threads goes to..


    :arrow:
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Anyone know the penalties imposed for late CIS returns?

    yup, i'm bored! but you are replying to them all- are you at a loose end too?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Anyone know the penalties imposed for late CIS returns?

    well thanks for that lovely trip down memory lane....
    i never did find out whether the client in question got fined but i'm meeting him next month so I'll make a point of remembering to ask him :wink:
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Anyone know the penalties imposed for late CIS returns?
    charlihedge wrote:
    yup, i'm bored! but you are replying to them all- are you at a loose end too?

    Yeh.. quiet time of year for me..

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